U.S. Lawmakers Take Major Step Toward Stablecoin Regulation with STABLE Act
U.S. lawmakers have made significant progress in regulating stablecoins. The House Financial Services Committee has approved the STABLE Act, a key piece of legislation aimed at establishing oversight for dollar-backed stablecoins. The bill passed with 32 votes in favor and 17 against.
The STABLE Act—short for Stablecoin Transparency and Accountability for a Better Level Economy—sets out a regulatory framework that includes reserve requirements and anti-money laundering standards. Its goal is to provide a clear and transparent infrastructure for digital assets tied to the U.S. dollar.
Committee Chair French Hill emphasized that blockchain technology is transforming how money moves, and said the STABLE Act reflects ongoing efforts to support financial innovation through responsible digital asset policy.
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According to Decrypt, the vote took place amid controversy surrounding alleged ties between former President Donald Trump’s family and crypto ventures, including the USD1 stablecoin developed by World Liberty Financial. In response, Democrats raised concerns about potential conflicts of interest and proposed restrictions to prevent the president or cabinet members from being involved in launching stablecoin products while in office.
What’s Next for the STABLE Act? Senate to Review GENIUS Act in Parallel
Following approval by the House Financial Services Committee, the STABLE Act will now head to the full House for a vote. If it passes, the Senate will need to review and vote on its own version of the bill, addressing key differences—such as aligning federal and state-level regulations and determining how to handle foreign stablecoin issuers like Tether.
In parallel, the Senate is also reviewing a separate proposal known as the GENIUS Act, which could influence the final framework.
If both chambers pass their respective versions, lawmakers will need to reconcile any differences before sending a unified bill to the president for signature or veto
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